Hindustan Unilever Ltd (HUL) is projected to deliver a steady performance in the March quarter, with brokerages estimating like-for-like revenue growth between 5-6% year-on-year, primarily driven by volume growth of 3-5%. However, reported growth may be muted at around 3-4% due to the impact of the demerger of its ice cream business, which has altered base comparisons. Across segments, home care and personal care are expected to grow by approximately 5%, while the beauty and wellbeing segment may see double-digit growth. Despite stable gross margins around 51-51.5%, underlying cost pressures could lead to a slight contraction in margins on a like-for-like basis. Profit growth is expected to be modest, with EBITDA growth around 3.4% year-on-year. Investors will closely monitor management's insights on rural demand trends and input cost fluctuations, as these factors will be critical for sustaining margins without aggressive price increases.